UHPIX vs. GRZZX
UHPIX (ProFunds UltraShort China) and GRZZX (Grizzly Short Fund) are both Inverse Equities funds. Over the past 10 years, UHPIX returned -30.50%/yr vs -1.42%/yr for GRZZX. A 0.63 correlation means they provide meaningful diversification when combined. UHPIX charges 1.78%/yr vs 1.61%/yr for GRZZX.
Performance
UHPIX vs. GRZZX - Performance Comparison
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Returns By Period
In the year-to-date period, UHPIX achieves a 51.66% return, which is significantly higher than GRZZX's -5.08% return. Over the past 10 years, UHPIX has underperformed GRZZX with an annualized return of -30.50%, while GRZZX has yielded a comparatively higher -1.42% annualized return.
UHPIX
- 1D
- 1.27%
- 1M
- 23.55%
- YTD
- 51.66%
- 6M
- 55.38%
- 1Y
- 15.20%
- 3Y*
- -26.17%
- 5Y*
- -23.80%
- 10Y*
- -30.50%
GRZZX
- 1D
- 0.91%
- 1M
- -0.50%
- YTD
- -5.08%
- 6M
- -3.76%
- 1Y
- -7.65%
- 3Y*
- -6.83%
- 5Y*
- -3.12%
- 10Y*
- -1.42%
UHPIX vs. GRZZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UHPIX ProFunds UltraShort China | 51.66% | -49.82% | -29.87% | -26.13% | -63.62% | 94.89% | -64.76% | -43.34% | 39.47% | -57.67% |
GRZZX Grizzly Short Fund | -5.08% | -2.98% | -6.74% | -18.72% | 22.43% | -15.87% | -41.33% | -29.43% | 301.98% | -19.84% |
Correlation
The correlation between UHPIX and GRZZX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2008 | 0.63 |
Over the past year, the correlation between UHPIX and GRZZX has dropped to 0.37 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
UHPIX vs. GRZZX — Risk / Return Rank
UHPIX
GRZZX
UHPIX vs. GRZZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProFunds UltraShort China (UHPIX) and Grizzly Short Fund (GRZZX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UHPIX | GRZZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.91 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | -0.63 | +0.89 |
| Martin ratioReturn relative to average drawdown | 0.50 | -1.37 | +1.87 |
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Drawdowns
UHPIX vs. GRZZX - Drawdown Comparison
The maximum UHPIX drawdown since its inception was -99.98%, which is greater than GRZZX's maximum drawdown of -91.80%. Use the drawdown chart below to compare losses from any high point for UHPIX and GRZZX.
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Drawdown Indicators
| UHPIX | GRZZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -91.80% | -8.18% |
Max Drawdown (1Y)Largest decline over 1 year | -44.95% | -13.89% | -31.06% |
Max Drawdown (3Y)Largest decline over 3 years | -80.96% | -29.48% | -51.48% |
Max Drawdown (5Y)Largest decline over 5 years | -96.64% | -37.65% | -58.99% |
Max Drawdown (10Y)Largest decline over 10 years | -98.81% | -72.45% | -26.36% |
Current DrawdownCurrent decline from peak | -99.95% | -89.42% | -10.53% |
Average DrawdownAverage peak-to-trough decline | -93.42% | -69.39% | -24.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.07% | 6.62% | +19.45% |
Volatility
UHPIX vs. GRZZX - Volatility Comparison
ProFunds UltraShort China (UHPIX) has a higher volatility of 11.67% compared to Grizzly Short Fund (GRZZX) at 4.52%. This indicates that UHPIX's price experiences larger fluctuations and is considered to be riskier than GRZZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UHPIX | GRZZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.67% | 4.52% | +7.15% |
Volatility (6M)Calculated over the trailing 6-month period | 37.96% | 10.60% | +27.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.67% | 14.05% | +38.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.99% | 19.60% | +63.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 228.63% | 96.68% | +131.95% |
UHPIX vs. GRZZX - Expense Ratio Comparison
UHPIX has a 1.78% expense ratio, which is higher than GRZZX's 1.61% expense ratio.
Dividends
UHPIX vs. GRZZX - Dividend Comparison
UHPIX's dividend yield for the trailing twelve months is around 2.83%, less than GRZZX's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GRZZX Grizzly Short Fund | 4.82% | 6.00% | 10.30% | 6.61% | 0.00% | 0.00% | 0.00% | 1.14% |
UHPIX ProFunds UltraShort China | 2.83% | 4.29% | 0.00% | 3.45% | 0.00% | 0.00% | 0.00% | 0.55% |
Frequently Asked Questions
UHPIX and GRZZX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UHPIX has higher volatility (11.67%) compared to GRZZX (4.52%). In terms of maximum drawdown, UHPIX dropped -99.98% vs GRZZX's -91.80%.
UHPIX currently has the higher Sharpe Ratio (0.23 vs -0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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